Well Established Dry Cleaners With Western Union For Sale London, United Kingdom Advert ref: DC524CG Business description
LOCATION
Situated in a short parade of shops the business benefits from being within a large residential area, close to army barracks and on a very busy road leading to Woolwich Ferry.
DESCRIPTION
Established in excess of thirty years ago, this business is a traditional dry cleaners carrying out most services including alterations and repair onsite with leather, suede cleaning sub-contracted. The equipment is well maintained and includes a Bowe Passat dry cleaning machine, P520, JLA 40 washing machine, JLA T50 Dryer, two Hoffman presses, spotting table and bagging machine. The business has a good amount of regular customers but also has the benefit of a large quantity of passing trade from commuters going to the Woolwich Ferry. Virtually no advertising is carried out with the business building due to word of mouth. The self contained flat is presently let out as separate rooms yielding around £16,000 per year.
NOTE
The business also operates a Western Union cash transmission service and Payzone.
REPAIRS
The business operates an in house repairs and alterations service utilising the services of a local self employed tailor. Income is split between the tailor and the business. The current split is 60/40 (the tailor receives 40%).
THE BUSINESS
We are informed that the business is currently taking around £1,100 per week including alterations/repairs, but excluding Western Union commission. Added to this around £16,000 is achieved by letting out the rooms above the shop. Full financial information will be provided to serious potential purchasers after a meeting with the vendor.
POTENTIAL
There is potential to extend the opening hours, carry out more advertising, and set up satellite receiving shops.
REASON FOR SALE
The vendor wishes to pursue other business interests.
THE PROPERTY
Lock up shop with fully glazed front with security shutters. Counter area with web based computerised till, Western Union counter, Repair area with 2 sewing machines and an overlocker. Bowe Passat dry cleaning machine and JLA 40 washing machine with JLA T50 dryer. The JLA machines are less than 2 years old. Central area with bagging machine, spotting table, and ample clothes rails. Rear area with two Hoffman presses and door to rear yard. Self contained flat with access from front with three bedrooms, living room, toilet, bathroom and kitchen.
TENURE
We have not inspected the lease, but we are informed that it is renewable and the current rent including the flat is in the order of £14,000 per year, with around 9 years remaining.
OUTSIDE
To the rear of the property there is a secure yard, access is via a side gate to the front of the building.
WORK IN PROGRESS
To be purchased separately at valuation.
STAFF
The business is currently owner run with the assistance of one employee at a wage of around £10,000 per year.
HOURS
8.30 am to 6.00 pm Monday to Saturday, with early closing at 1.00 pm Thursday.
LEGAL FEES
Vendors and purchasers to meet their own contractual costs.
The purchaser is to meet the landlord’s costs relating to the lease
Property: Leasehold
Lease terms
We have not inspected the lease, but we are informed that it is renewable and the current rent including the flat is in the order of £14,000 per year, with around 9 years remaining.
Living accomodation
The self contained 4 4 roomed flat is presently let out as separate rooms yielding around £16,000 per year.
Location
Situated in a short parade of shops the business benefits from being within a large residential area, close to army barracks and on a very busy road leading to Woolwich Ferry.
Related documents
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| | Financial details Asking price: £49,950
Sales revenue: £75,000
Net profit: 0 - £100k
Furniture / Fixtures value: £10,000
Inventory / Stock value: Undisclosed Photos 
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